Does a
right to property exist under international law? The traditional
answer to this question is “no” ― a right to property can arise only
under national law. But sweeping economic and political changes in
recent decades have laid the foundation for recognizing a global right
to property. Ideological opposition to property rights has faded with
the end of the Cold War; China, Russia, and other socialist states have
transitioned to market economies which are premised on private property;
and the globalization of trade has enhanced international support for
protecting property rights. Accordingly, it is appropriate to revisit
the question.

This article challenges the conventional wisdom
that a right to property can arise only under national law. It is the
first legal scholarship to demonstrate that a right to property exists
under international law, not merely as a moral precept but rather as an
entitlement which all nations must honor. The existence of the global
right to property is supported by three independent lines of analysis:
conventional law; general principles of law; and customary international
law.

Recognition of the global right to property has practical
implications for the international legal system. It will ensure that
the right is respected in proceedings before international judicial and
arbitral tribunals. Over time, it will also contribute to building the
legal framework for regulating property in the global commons, areas
which are outside of the sovereign jurisdiction of any nation such as
the high seas, outer space, and Antarctica.